CHICAGO, July 3, 2023 /PRNewswire/ -- The global market for naval communication market is estimated to be USD 3.3 billion in 2023 and expected to reach USD 4.3 billion by 2028 at a CAGR of 5.3% from 2023 to 2028 according to a new report by MarketsandMarkets. One major driver of the naval communication market is the increasing focus on maritime security and the need for advanced communication capabilities to support naval operations.
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Browse in-depth TOC on "Naval Communication Market"
200 - Tables
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210 - Pages
Naval Communication Market Report Scope:
Report Coverage | Details |
Market Revenue in 2023 | $3.3 billion |
Estimated Value by 2028 | $4.3 billion |
Growth Rate | Poised to grow at a CAGR of 5.3% |
Market Size Available for | 2019-2028 |
Forecast Period | 2023-2028 |
Forecast Units | Value (USD Million/Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Platform, System Technology, Application and Region |
Geographies Covered | North America, Europe, Asia Pacific, and Rest of World |
Key Market Challenge | Cybersecurity risks |
Key Market Opportunities | Adoption of 5G technology |
Key Market Drivers | Increasing geopolitical tensions and defense budgets |
The rising geopolitical tensions, territorial disputes, and evolving security threats drive the demand for robust communication systems that enhance situational awareness, interoperability, and command and control capabilities. Additionally, the growing emphasis on naval modernization programs and the deployment of advanced sensor systems and unmanned platforms further fuel the demand for integrated communication solutions. Technological advancements, Defense budgets of nations, and the pursuit of naval power projection also contribute to driving the market forward.
The naval satcom systems segment is projected to witness the highest CAGR during the forecast period.
The naval satcom system is anticipated to experience the highest CAGR in the naval communication industry. Naval forces rely on satcom systems for secure and reliable communication, data exchange, and real-time information sharing. The increasing demand for maritime surveillance, remote sensing, and intelligence gathering drives the need for enhanced satcom capabilities. The ability to establish long-range and beyond-line-of-sight communication links using satellites is crucial for naval operations in remote or geographically dispersed areas.
The ships segment is projected to dominate the naval communication market by platform. The ships segment is expected to witness a highest CAGR in the naval communication market. Ships serve as vital platforms for naval operations, necessitating robust communication systems. The increasing focus on maritime security, naval modernization programs, and the need for enhanced operational capabilities drive the demand for advanced communication solutions in the ships segment. Ships require reliable and seamless communication for coordination, command, and control purposes. With the deployment of advanced sensor systems, unmanned platforms, and surveillance equipment on naval ships, there is a growing requirement for integrated communication solutions that support efficient information exchange. These factors contribute to the anticipated high CAGR in the ships segment of the naval communication market.
The command-and-control segment of the naval communication market by application is projected to dominate the market. Command and control systems are crucial for effective coordination, situational awareness, and decision-making in naval operations. As the complexity of naval missions increases, there is a growing demand for advanced command and control solutions. Naval forces require integrated communication systems that can handle diverse data, voice communication, and video feeds from multiple platforms and sensors. Command and control systems enable centralized command centres to monitor and manage the battlefield, disseminate critical information, and provide actionable intelligence to operational units.
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North America is expected to account for the largest share in 2023.
The naval communication market industry has been studied in North America, Europe, Asia Pacific, and Rest of the World. North America is poised to have the largest market share in the naval communication market. The region's dominance can be attributed to several factors, including the presence of major Defense contractors, advanced naval capabilities, and significant Defense budgets. The United States, in particular, holds a strong position in the market, driven by its robust naval force and technological advancements in the Defense sector. The country allocates substantial resources to naval modernization programs and the development of advanced communication systems for its naval fleet. Companies such as General Dynamics and Lockheed Martin, headquartered in North America, contribute to the region's market leadership.
Major players operating in the naval communication companies are Honeywell International Inc. (US), General Dynamics Corporation (US), Lockheed Martin Corporation (US), BAE Systems plc (UK), and Elbit Systems Ltd. (Israel) among others are some of the market players.
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